EURAZEO_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS Notes to the Consolidated Financial Statements

INVESTMENT PROPERTIES NOTE 7

Group investment properties solely consist of Eurazeo Patrimoine real estate holdings, measured at fair value (level 3) as of December 31, 2017.

Change in value

Exits from scope

12/31/2016 Additions

Disposals

12/31/2017

(In thousands of euros)

ANF Immobilier investment properties Lyons

325,500 581,152

1,214

(792) (316)

9,968

(335,890) (556,057) (95,973) (83,815) (23,000)

- - - - -

Marseilles Bordeaux B&B Hotels

2,054 15,863

(26,833)

76,665 83,491

- - -

3,445 (229) 4,026

553

Toulouse

-

18,974

Other investment properties CIFA Fashion Business Center TOTAL INVESTMENT PROPERTIES

220,000

8,984

-

5,365

-

234,349 234,349 234,349

1,286,808

47,642

(1,108)

(4,258)

(1,094,735)

Investment properties

1,286,016

Investment properties classified as held for sale

792

-

As of December 31, 2017, CIFA Business Center buildings were valued based on expert appraisals performed by the firm, CBRE.

ASSOCIATES AND FINANCIAL ASSETS NOTE 8

8.1

Investments in associates

Change in consol. scope/ Disposals

Foreign currency translationImpairment

4

Net income

Change in reserves

(In thousands of euros) 12/31/2016 Dividends Additions

Other 12/31/2017

Europcar

695,815 (28,930) 239,287 (8,840)

68,211 (168,835) 122,267 (143,728)

21,410 7,596 (3,609)

- - - -

- - - -

591,658 202,489 185,972 124,082 117,600 153,187

Elis

2,070 (2,758) 5,348

889 (9,456)

Trader Interactive

-

-

200,261

-

-

(11,531) (7,139) (490) (1,977)

Neovia

125,969 152,142

(636) (712)

- -

148

392

Desigual

-

2,764 (1,660)

(34,395)

(49)

Others

139,490 (1,649)

8,585

7,775

1,466

-

-

(503)

Investments in associates

1,352,703 (40,767) 399,324 (304,640)

30,300 7,217 (34,202) (34,395)

(552) 1,374,988

Change in hedging reserve

Note 9.2

4,483 3,328 (594)

Actuarial gains and losses recognized directly in equity

Tax impact

The increase in investments in associates is mainly due to the changes in the consolidation scope disclosed in Note 2.

227

Eurazeo

2017 Registration document